Bearish View on BTCUSDT
Welcome to Daily Trade Setups.
Trade:
<ul>
<li>Buy 34200 Put option of 16 November expiry @ $50</li>
<li>Sell 33600 Put option of 16 November expiry @ $30</li>
<li>Sell (2x) 33200 Put option of 16 November expiry @ $15 each</li>
</ul>
Stop Loss: Spot level = $36800
Target: Spot level of $33600
Payoff chart at Expiry:
<ul>
<li>Max Profit: $405/BTC</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-33524 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-9.00.42-AM-1024x462.jpeg" alt="" width="525" height="237" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-9.00.42-AM-1024x462.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-9.00.42-AM-300x135.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-9.00.42-AM-768x346.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-9.00.42-AM-24x11.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-9.00.42-AM-36x16.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-9.00.42-AM-48x22.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-9.00.42-AM.jpeg 1122w" sizes="(max-width: 525px) 100vw, 525px" />
Rationale:
Following an impressive surge in BTC, we observed a retracement from the 38000 levels, leading to a dip in BTC’s value to 34900. This selling pressure successfully breached key demand/support zones, particularly around 35600.
Also, we have observed a fresh supply zone been formed around 36120 levels, which will act as a resistance for price,
Above setup is a  bear put spread / put debit spread which allows you to profit from a potential downward movement while limiting your risk.
 
<img loading="lazy" decoding="async" class="aligncenter wp-image-33521 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-8.55.06-AM-1024x447.jpeg" alt="" width="525" height="229" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-8.55.06-AM-1024x447.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-8.55.06-AM-300x131.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-8.55.06-AM-768x335.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-8.55.06-AM-24x10.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-8.55.06-AM-36x16.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-8.55.06-AM-48x21.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-15-at-8.55.06-AM.jpeg 1330w" sizes="(max-width: 525px) 100vw, 525px" />
Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to <a href="https://www.delta.exchange/research-disclaimer">https://www.delta.exchange/research-disclaimer</a> for analyst disclaimer and other disclosures.

Bearish View on BTCUSDT

Welcome to Daily Trade Setups.

Trade:

 	Buy 34200 Put option of 16 November expiry @ $50
 	Sell 33600 Put option of 16 November expiry @ $30
 	Se

Trade Setup 15 Nov 2023

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